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Bank Islam Malaysia Berhad has appointed YM Raja Datin Paduka Teh Maimunah Raja Abdul Aziz as its new Group Chief Executive Officer, effective 1 April 2026. She succeeds Dato’ Mohd Muazzam Mohamed, who retired in December 2025 after serving the Group for 10 years. Raja Teh Maimunah brings 30 years of experience in the financial sector to the role. She was most recently the founding CEO of AEON Bank (M) Bhd, where she led the launch of Malaysia’s first Islamic digital bank. Her previous senior roles include positions at AmBank Group and Hong Leong Islamic Bank. During her tenure at Bursa Malaysia, she also pioneered the world’s first Shariah-compliant commodity trading platform. Bank Islam Chairman Tan Sri Dr Ismail Haji Bakar said Raja Teh Maimunah’s leadership in Islamic finance and digital innovation aligns well with the Group’s strategic direction. He added that the Board is confident she will strengthen Bank Islam’s market position and drive innovation. In her new role, Raja Teh Maimunah is expected to lead the Group’s next phase of growth, with a focus on digital adoption and operational excellence. She is a certified Fellow of the Chartered Banker Institute and a Chartered Professional in Islamic Finance. Bank Islam remains Malaysia’s first publicly listed pure-play Islamic bank, operating more than 100 branches nationwide.

The federal government is in the final stages of transferring control of Bintulu Port to the Sarawak government, with the takeover valued at RM1.8 billion. Bintulu Port is one of the world’s largest liquefied natural gas export hubs. Transport Minister Anthony Loke Siew Fook said both the federal and Sarawak governments had agreed on the valuation after several discussions between Prime Minister Datuk Seri Anwar Ibrahim and Sarawak Premier Tan Sri Abang Johari Tun Openg. Sarawak plans to make the payment in a lump sum. A joint technical committee comprising representatives from both governments is currently reviewing the legal aspects of the transfer to ensure all requirements under the Bintulu Port Authority (Dissolution) Act 2004 are met. “Once the Act comes into force, Sarawak will take over the regulatory control and management of Bintulu Port,” Loke told the Dewan Rakyat during the oral question-and-answer session on Wednesday. Until the legislation, also known as Act 859, is enforced, Bintulu Port remains classified as a federal port under the regulatory oversight of the Bintulu Port Authority. Loke noted that Bintulu Port, like other federally regulated ports, does not receive direct financial allocations from the federal government, as port operations are managed by private concessionaires. He added that the Bintulu Port Authority acts solely as the regulator, while operations are carried out by concessionaire Bintulu Port Holdings Bhd (KL:BIPORT), which pays annual concession fees. Following the transfer, any future expansion or investment will continue to be undertaken by the concessionaire, with concession payments maintained.

Malaysia’s AirAsia X is aiming to restructure between US$500 million and US$600 million in debt following its acquisition of the short-haul aviation business of Capital A, Deputy Group CEO Farouk Kamal said. The medium-haul affiliate of Capital A’s AirAsia plans to merge the group’s seven airlines under a single banner, consolidating operations to reduce costs and streamline management. “We are looking at several refinancing initiatives to extend loan tenures, lower interest costs, and consolidate multiple debt instruments into one or two loans,” Farouk said in a Wednesday interview. AirAsia, founded in 2001, has grown into one of Asia’s largest budget airline groups. However, pandemic-related travel restrictions severely affected its parent, Capital A, which was later classified as financially distressed by Malaysia’s stock exchange. The consolidation under AirAsia X is intended to strengthen the airline’s operational focus and expand its network, while Capital A focuses on financial recovery. Farouk said the airline plans to resume flights to London from mid-2026, more than a decade after last operating at Gatwick and Stansted, and recently launched services to Istanbul. AirAsia X will also establish a hub in Bahrain to improve connectivity to Central Asia, the Middle East, Europe, and Africa. This year, it expects to receive four long-range Airbus A321LR aircraft, supporting expansion beyond Asia. The airline currently has a 255-strong fleet, with 50 A321XLR aircraft on order and rights to convert 20 more, while considering an additional 150 regional jets. Following consolidation, AirAsia X targets near-term revenue of nearly US$6 billion, an EBITDA margin of 20%, and passenger loads above 80%, Chief Financial Officer Low Kar Chuan said. Low added that the airline aims to fully repay bank loans taken during the COVID-19 pandemic within two to three years.

Jeneral Datuk Malek Razak Sulaiman has been officially appointed as the 24th Chief of the Malaysian Armed Forces. The appointment was officiated by Defence Minister Datuk Seri Mohamed Khaled Nordin at Wisma Pertahanan on Tuesday (Feb 3). During the ceremony, Mohamed Khaled also conferred Malek Razak’s promotion from Leftenan-Jeneral to Jeneral. The Armed Forces’ Intelligence and Defence Strategic Communication division said the appointment comes at a pivotal time, as the military faces growing expectations to strengthen public trust and uphold institutional credibility amid an increasingly complex security environment. “The role of the Armed Forces Chief now extends beyond operational command, requiring strong moral authority and a firm commitment to professional military values,” the statement said. “Senior leadership is expected to serve not only as strategic commanders but also as custodians of integrity, discipline, and organisational principles.” Malek Razak’s appointment coincides with an ongoing period of institutional review and renewal within the Armed Forces, focusing on governance, accountability, and leadership integrity. The statement added that the new chief is tasked with setting a clear strategic direction anchored in transparency and discipline, uniting personnel across all ranks, taking firm action against misconduct, and supporting institutional checks and balances to restore internal resilience. Mohamed Khaled had announced the appointment on Saturday (Jan 31), noting that His Majesty Sultan Ibrahim, King of Malaysia, had consented to Malek Razak’s promotion and appointment, following the recommendation of the 633rd (Special) Armed Forces Council meeting on Jan 29. Malek Razak holds a Diploma in Strategic and Security Studies from Universiti Kebangsaan Malaysia (UKM), a Master of Arts in Defence Studies from King’s College London, and a Master of Social Science (Defence Studies) from UKM. He began his military career in 1985 as an Overseas Cadet Officer at the Royal Military College, Sandhurst, in the United Kingdom, and was commissioned as a Second Leftenan on Dec 11, 1987. Over nearly four decades of service, Malek Razak has held numerous command and staff appointments, starting as a platoon commander with the 21st Battalion of the Royal Malay Regiment. His most recent post was Western Field Commander of the Army. Mohamed Khaled expressed confidence that Malek Razak’s leadership, experience, and credibility would strengthen the Armed Forces’ capabilities, uphold professionalism and integrity, and maintain public confidence in Malaysia’s defence institutions.

The Inland Revenue Board (IRB) has uncovered RM1.4 billion in previously undeclared income through reviews conducted under its e-Invoice system, which was introduced six months ago. In a statement on Tuesday, the tax authority said it identified more than 500,000 cases of potential underreporting, where taxpayers’ declared income did not align with their financial capacity. As a result, reminder notices were issued to encourage voluntary disclosures. Following these efforts, 17,188 taxpayers submitted backdated income declarations, generating RM290 million in additional tax revenue. Since the e-Invoice system was rolled out on Aug 1, 2024, a total of 184,325 taxpayers have issued 979 million e-invoices, reflecting strong uptake, including among micro, small and medium enterprises. The IRB said the system supports the digitisation of business operations and ensures transactions are properly recorded. It added that the agency will continue to enforce tax compliance fairly and efficiently by leveraging data-driven and digital tools to detect non-compliance. Taxpayers were reminded to keep their tax records accurate and up to date to avoid penalties or legal action under the Income Tax Act 1967.

A total of 94,677 rubber smallholders received RM9.5 million under the Rubber Production Incentive (IPG) between January and November 2025, according to the Ministry of Plantation and Commodities (KPK). The ministry said the IPG was activated four times in Peninsular Malaysia and nine times each in Sabah and Sarawak during the year. Since its introduction in September 2015 up to Nov 30, 2025, the incentive scheme has benefited 253,358 smallholders nationwide, with total payouts amounting to RM532.76 million. KPK was responding to a parliamentary question from Datuk Seri Jalaluddin Alias (BN-Jelebu) on the number of beneficiaries in 2025 and the suitability of the current activation price threshold of RM3 per kilogramme (kg). On the threshold, the ministry said the RM3 per kg rate is determined based on the government’s financial capacity. It noted that the IPG activation price has been reviewed and raised five times since the scheme was introduced, with the current rate coming into effect in January 2024. The ministry added that it is reviewing and assessing potential improvements to the IPG to make it more inclusive and targeted. Proposed enhancements include productivity-based incentives and a higher IPG rate for latex production, aimed at sustainably improving productivity, national rubber output and smallholders’ incomes.

Bank Negara Malaysia (BNM) has imposed financial penalties totalling RM1.07 million on four entities for breaches of anti-money laundering and counter-financing of terrorism (AML/CFT) regulations. The central bank said the enforcement actions were taken following failures by the institutions to comply with requirements under the submission of suspicious transaction reports (STRs), which are a key component of Malaysia’s financial crime prevention framework. MBSB Bank Berhad received the heaviest penalty, amounting to RM560,000. BNM said the bank failed to submit an STR relating to unusually large cash withdrawals that had triggered its internal red flag indicators. The lapse was attributed to insufficient staff awareness and understanding of STR reporting obligations. Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank) was fined RM460,000 for failing to promptly file STRs involving suspicious activities linked to several customers. Similar to MBSB, BNM said the breach stemmed from inadequate staff awareness of AML/CFT reporting requirements. In addition to the two banks, two non-bank institutions were also compounded for comparable compliance failures. Boardroom Corporate Services Sdn Bhd was fined RM46,000 for not submitting an STR in a timely manner and for failing to conduct enhanced due diligence on a high-risk customer, as well as customers receiving nominee services. Ilham Secretarial Services was imposed a compound of RM8,625 for failing to promptly submit an STR relating to irregular transactions involving a customer. BNM said all four institutions have since taken corrective measures to strengthen their internal controls, enhance staff training and improve overall compliance with AML/CFT requirements. The central bank reiterated that it will continue to take firm enforcement action against reporting institutions that fail to meet regulatory standards, underscoring its ongoing commitment to safeguarding the integrity of Malaysia’s financial system.

The Malaysian Anti-Corruption Commission (MACC) has uncovered an alleged “protection money” network and hidden financial records linked to a well-known massage centre chain. According to Harian Metro, investigators found that the company allegedly operated a “two-tier” accounting system to conceal its actual earnings. This reportedly allowed substantial cash transactions to go unrecorded, leading to an estimated annual tax leakage of RM7.56 million. Working together with the Inland Revenue Board (LHDN), MACC focused its investigation on 32 branches that have been reporting since 2023. The probe revealed that bribes were allegedly paid to enforcement officers and local authorities to ensure uninterrupted operations. As part of the investigation, MACC froze 121 bank accounts holding about RM11.5 million. Five individuals — including company directors and senior management — were arrested in coordinated operations across Putrajaya and the Klang Valley. The suspects, aged between 30 and 50, were brought before the Putrajaya Magistrate’s Court yesterday, where Magistrate Ezrene Zakariah granted remand orders. Four suspects were remanded for four days, while one was remanded for three days to assist further investigations. The case is being investigated under Section 16 of the MACC Act 2009 for accepting gratification. So far, 12 witnesses have provided statements to the commission. MACC has also frozen and is examining luxury assets believed to be linked to the alleged offences. These include five luxury vehicles valued at RM1.5 million, five commercial properties worth RM7.3 million, seven residential units valued at RM7.7 million, and two industrial properties estimated at RM2.3 million. The total value of seized and frozen assets is estimated to exceed RM18.8 million. Investigators are assessing whether these assets were acquired using proceeds from unlawful activities. MACC Special Operations Division senior director Datuk Mohamad Zamri Zainul Abidin confirmed that investigations are ongoing, including potential elements of money laundering. The commission said it remains committed to closing enforcement loopholes that enabled such activities and is also probing the extent of the alleged protection money network involving local enforcement personnel. The massage chain is alleged to have operated all 32 outlets while evading tax scrutiny by bypassing official reporting channels. Authorities are expected to record more statements from stakeholders and employees as the investigation enters its next phase. The RM11.5 million frozen in bank accounts will remain inaccessible pending the outcome of the probe, while the company’s operations continue to remain under close scrutiny by anti-graft authorities.

A total of 71 foreign food and beverage (F&B) franchisors were registered to operate in Malaysia as at Dec 31, 2025, accounting for 42% of the 170 F&B franchisors listed on the national register, according to the Ministry of Entrepreneur Development and Cooperatives. In a written parliamentary reply published on Parliament’s website, the ministry acknowledged the challenges faced by micro, small and medium enterprises (MSMEs), particularly in the franchise sector, amid growing competition from international F&B players offering lower-priced products supported by scale and global supply chains. The ministry said only foreign franchisors that are properly qualified and able to contribute meaningfully to the national economy are approved for registration. The response was given to a question by Siti Mastura Muhammad (PN–Kepala Batas) on measures the government plans to implement to safeguard local businesses, especially domestic MSMEs, from intensified competition following the entry of foreign firms. Separately, the ministry noted that its agencies have introduced initiatives to help MSMEs expand market access, including live-streaming programmes and free studio facilities through a collaboration between Tekun Nasional and TikTok Shop. It added that these efforts are aimed at boosting entrepreneurs’ sales, alongside Pernas’s MyMall platform, which offers free online marketing space for MSME products and services.

Malaysia’s automotive manufacturing sector is seeing increased participation from local precision engineering firms as the industry shifts toward higher-value and technology-driven production, amid rising regional demand. The shift mirrors regional supply chain changes, with specialised engineering now crucial as automakers seek higher precision and faster development. Operating within this evolving landscape, CNC Innovations Sdn Bhd, a Malaysian automotive aftermarket engineering company, reflects the industry trend toward advanced machining technologies, digital engineering tools and specialised expertise to support more  complex automotive applications. Daniel Gholami, Chief Executive Officer of CNC Innovation Sdn Bhd, together with the Board of Directors of the 5th Asia Automotive Award – Thailand Chapter, underscoring collaboration between Malaysian precision engineering firms and regional automotive industry leaders. From Left : Matahari Lee, Tom Kek, Dr Por Boon Kuan, Daniel Gholami, Ong Choon Jet, Nazrul Zahri The company specialises in high-precision CNC-machined components for automotive enthusiasts, performance tuners and industry professionals. Its product range includes billet intake manifolds, performance engine components and customised precision parts developed across multiple engine platforms, demonstrating the technical versatility required in performance-oriented applications. CNC Innovations uses advanced 3-, 4- and 5-axis CNC machining centres, supported by CAD/CAM software, computational fluid dynamics analysis, and precision measurement systems. This combination allows the company to produce components with tight tolerances and consistent accuracy, which are essential for applications where airflow, material strength, and dimensional precision affect performance. Beyond machining, the company provides engineering and manufacturing support services including prototyping, engineering consultancy, laser cutting, waterjet cutting, electrical discharge machining (EDM), welding and assembly. Industry observers note that such end-to-end capabilities are increasingly common among Malaysian precision manufacturers as firms seek to offer more comprehensive solutions under a single operational structure. CNC Innovations has also gained industry recognition for its technical capabilities, including receiving the Asia Automotive Innovation Excellence Award during the 4th Asia Automotive Award. More recently, the company participated as a main sponsor of the 5th Asia Automotive Award – Thailand Chapter, reflecting the growing involvement of Malaysian engineering firms in regional automotive industry platforms. The CNC Innovation team, whose combined expertise in precision engineering, advanced machining and automotive manufacturing supports the company’s expanding presence within the regional automotive aftermarket sector. The Asia Automotive Award, now in its fifth edition, brings together automotive manufacturers, suppliers and industry stakeholders across ASEAN. Participation by Malaysian companies at regional platforms is seen as part of a wider effort to strengthen cross-border industry engagement and enhance visibility within regional automotive supply chains. Alongside technology adoption, CNC Innovations places emphasis on workforce development through continuous training and skills upgrading. The company also collaborates with local universities and technical institutions as part of efforts to maintain workforce readiness amid evolving manufacturing technologies. Quality control remains a key focus, with structured inspections at every stage from material selection to final assembly. Lean manufacturing principles are applied to maintain consistency across both customised projects and higher-volume production. As the automotive industry continues to evolve, driven by electrification, efficiency requirements and higher performance standards, specialised engineering firms are expected to play an increasingly important role within regional and global supply chains. Industry participants note that the growth  of companies such as CNC Innovations reflects  a broader shift within Malaysia’s, with  local firms moving beyond conventional machining toward more specialised, technology-driven engineering services with regional impact.